 "Diesel subsidy will be wiped out if global oil prices hold: Arvind Mayaram")
Finance Secretary Arvind Mayaram said on Thursday he hoped diesel subsidy would be wiped out soon and prices would become market-determined if current global oil prices hold.
India regulates prices of diesel, liquefied petroleum gas, and kerosene to keep them in check for the masses.
Brent crude oil slipped below $102 a barrel on Thursday, near a 14-month low, on evidence of plentiful fuel supplies and Chinese economic data pointing to slowing demand.
Reuters
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 "IOC, BPCL & HPCL are each losing close to Rs 3 a litre on diesel, profit on petrol down")
 "No More Petrol: Why oil producer Argentina is facing a fuel shortage")
 "Why is Russia asking India to pay for oil in yuan? How is New Delhi pushing back?")
 "Global oil prices could hit $100 a barrel: How it will impact the world")